REGISTERED NUMBER: 08805177 (England and Wales)

AGTC LTD

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

A Gilbourne

T Cutler

M Talbot

REGISTERED OFFICE:

7, Horseshoe Park

Pangbourne

Berkshire

RG8 7JW

REGISTERED NUMBER:

08805177 (England and Wales)

ACCOUNTANTS:

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of importing and exporting of retail goods.

REVIEW OF BUSINESS

AGTC Ltd is pleased to report strong results for FY24, building on the solid foundations established in FY23.

We continue to benefit from our positive relationship with NatWest, a tier-one UK lender. The trade loan facility in place provides significant flexibility to invest in stock, enabling the business to maximise sales opportunities.

Despite these positives, supply chain instability continues to present challenges. In particular, the Suez Canal crisis during the year negatively impacted margins.

Looking ahead, the business remains well positioned to capitalise on growing demand for our products. Significant investment is being directed toward strengthening brand awareness across all sales channels, with budgeted growth expected to exceed targets.

Our independently audited Net Promoter Score (NPS) results demonstrate that we are outperforming our sector peers, reflecting our commitment to delivering excellent customer service.

The board, along with the wider AGTC team, remain focused on continually improving the customer experience and driving sustainable growth.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

A Gilbourne

T Cutler

M Talbot

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

T Cutler - Director

29 September 2025

FIXED ASSETS

Intangible assets

4

273,447

104,989

Tangible assets

5

295,213

325,220

568,660

430,209

CURRENT ASSETS

Stocks

4,575,361

2,895,435

Debtors

6

1,213,643

527,447

Cash at bank and in hand

653,178

1,017,558

6,442,182

4,440,440

CREDITORS

Amounts falling due within one year

7

4,559,056

3,879,067

NET CURRENT ASSETS

1,883,126

561,373

TOTAL ASSETS LESS CURRENT LIABILITIES

2,451,786

991,582

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

2,451,386

991,182

SHAREHOLDERS' FUNDS

2,451,786

991,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A Gilbourne - Director

T Cutler - Director

1.	STATUTORY INFORMATION

AGTC Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% per annum on cost, 15% on cost, 11.25% on cost and in accordance with the property

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

115,838

Additions

275,849

At 31 December 2024

391,687

AMORTISATION

At 1 January 2024

10,849

Charge for year

107,391

At 31 December 2024

118,240

NET BOOK VALUE

At 31 December 2024

273,447

At 31 December 2023

104,989

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

660,213

Additions

107,375

Disposals

(38,401

)

At 31 December 2024

729,187

DEPRECIATION

At 1 January 2024

334,993

Charge for year

133,862

Eliminated on disposal

(34,881

)

At 31 December 2024

433,974

NET BOOK VALUE

At 31 December 2024

295,213

At 31 December 2023

325,220

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

171,201

68,364

Other debtors

1,042,442

459,083

1,213,643

527,447

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

32,419

Trade creditors

882,962

1,231,787

Taxation and social security

1,408,027

863,039

Other creditors

2,268,067

1,751,822

4,559,056

3,879,067

8.	RELATED PARTY DISCLOSURES

Easy Imex Limited is a company incorporated in Hong Kong which is controlled by Mr A Gilbourne. During the year AGTC Limited purchased goods from Easy Imex Limited totalling £11,515,145 (2023: £7,851,657). As at the balance sheet date £1,054,906 (2023: £1,234,244) was due to Easy Imex Limited.